How Does a Good Differ from a Service

question 24

Multiple Choice

How does a good differ from a service?  

• A) A good is desirable whereas services are NOT. 
• B) A good uses resources to satisfy wants. 
• C) A good is physical and tangible. 
• D) A good is abundant and free.

---

Definitions:

Shovel Sidewalk

The act of clearing snow and ice from pedestrian paths, often a municipal requirement for property owners during the winter months.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to a second party if the second party has reasonably relied on that promise to their detriment.

Wal-Mart

A multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores.

Revocation Effective

Pertains to the point in time when a revocation (of a will, offer, or other legal declaration) becomes legally valid or enforceable.